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Show work and clearly indicate all answers E10-6 (Algo) Determining and Recording the Financial Statement Effects of Deferred Revenue [LO 10-2] [The following information applies

Show work and clearly indicate all answers

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E10-6 (Algo) Determining and Recording the Financial Statement Effects of Deferred Revenue [LO 10-2] [The following information applies to the questions displayed below.] The Riesen Publishers (TRP) is a publisher of magazines, its accounting policy for subscriptions follows: Revenues Hevenues from our magazine subscription services are deferred initially and later. recognized as revenue as subscription services are provided. Assume TRP (a) collected $460 million in 2021 for magazines that will be distributed later in 2021 and 2022, (b) provided $224 million of services on these subscriptions in 2021, and (c) provided $236 million of services on these subscriptions in 2022. 10-6 (Algo) Part 1 equired: Using the information given, indicate the accounts, amounts, and accounting equation effects of transactions (a). (b), and (c). (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign. Entep your answers in whole dollars.) 1. Using the information glven, indicate the accounts, amourits, and accountinq equation effects of transactions (d) (b), and (d) (Enter any decreases to asseta, Fiobilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.) 2. Using the information given, prepare the journal entries that would be recorded for (a), (b), and (c). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in whole dollars.) Journal entry worksheet Aecord the collection of $460,000,000 for magazine subscriptions to be delivered later in 2021 and 2022. Wote friter detilts before sredits. Journal entry worksheet Record the service revenue of $224,000,000 earned in 2021 . Note: Enter debits before credits. Journal entry worksheet 1 Record the service revenue of $236,000,000 earned in 2022 . Note: Enter debits before credits

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